Zoomlion 2024: Diversification, globalization and digitalization create a new growth curve, and continue to pay high dividends to demonstrate value

On the evening of March 24, Zoomlion released its 2024 annual report. The company achieved annual revenue of 45.478 billion yuan; Net profit of 4.09 billion yuan, an increase of 6.31%. The company's share payment expense in 2024 was 866 million yuan, an increase of 587 million yuan, excluding the impact of share payment expenses, the annual net profit increased by 18.39%. The company's gross profit margin for the year was 28.17%, a year-on-year increase of 1.04pct, and the gross profit margin at home and abroad improved; Net profit margin of 8.81%, an increase of 0.80pct year-on-year. At the same time, the company intends to pay a cash dividend of 3 yuan (including tax) for every 10 shares.

The position of traditional advantageous industries is stable, and the diversified transformation of industries has yielded fruitful results

Zoomlion is leading the wave of intelligent, green and high-end development of construction machinery and agricultural machinery, and is redefining "high-end products" with digitalization, intelligence and green.
In 2024, the company's traditional advantageous industries such as engineering lifting machinery, construction lifting machinery and concrete machinery are in a stable position. Among them, the market share of 35 tons and 55 tons of automobile cranes is the first, the crawler crane revenue industry is the first, and the market share of crawler cranes above 1,000 tons is the first. The market share of tower crane ranks first in the industry, and the sales volume of medium and large and customized high-end tower crane products has increased significantly. The market share of pump trucks and stirring trucks ranks the top two in the industry, the market share of long boom pump trucks and mixing stations is the first, and the sales volume of electric stirring trucks increased by 90% year-on-year.
Emerging plates continue to break through. Among them, the market share of earthmoving machinery is in the forefront of the industry, and the small micro-mining dealer network has basically covered the national main sales market, and the export growth rate continues to lead the industry. With the advantages of high-end and green products and the ability of large-scale intelligent manufacturing, "mining card combination" products have repeatedly achieved good results in competition with domestic and foreign head manufacturers, forming a trend of rapid development. High-altitude machinery has ranked among the top six in the world, the rental rate in the domestic market exceeds 70%, and overseas sales are in short supply. Agricultural machinery accelerated the improvement of domestic and foreign market layout, sales ranking rose to the fifth domestic industry, the market share of drying machines was the first, wheat machines ranked the top two in the industry, and the market share of 200 horsepower segment high-end tractors entered the top three.
Under the diversified transformation, the company's revenue and profit sources have more channels, stronger stability and higher quality. According to the data, the domestic revenue of the company with a high degree of domestic real estate related business accounted for about 13% of the total revenue, the proportion of emerging sector revenue has exceeded 48%, and is still developing vigorously, high-altitude machinery is effectively promoting the integration of overseas localized resources, and the domestic market penetration rate is still large; Mining machinery is not only high added value, but also a large market size, stable income, and a high proportion of after-market income. Emerging sectors continue to break through, bringing a new growth curve to the company, making the company's cyclical attributes significantly lower.